Feb 26, 2024
Claiming Whistleblower Status
Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.
There are three Whistleblower programs, False Claims, SEC Whistleblower, and IRS Whistleblower.
One can file multiple claims under each of the programs.
One must file within a time limit of the act of fraud which in most cases is 10 years.
Some IRS and SEC claims require a filing within three years.
The False Claims Act requires you to have an attorney.
This gives anonymity to the filer.
This act covers fraud and waste to the Federal Government.
This includes healthcare, tax, defense, pharmaceutical, educational, financial and more.
Once filed you cannot discuss the case with anyone.
For SEC Whistleblower cases you file a Form TCR.
For IRS Whistleblower cases you file a Form 211.
The government will determine whether to pursue or not.
The filer can make another claim under a different act to gain a higher payout.
The Department of Justice or SEC will lead the investigation.
The faster you submit the claim, the better the chance of success.
The Whistleblower can receive a percent of any rewards collected which can range from 10% to 30% of the funds collected.
Consider these steps in filing a whistleblower claim.
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